ROSEWOOD PROPERTY CO. BEGINS NEXT PHASE OF PLANO’S HERITAGE CREEKSIDE DEVELOPMENT

Jan 27, 2017 | Press Release

Rosewood Property Co. begins next phase of Plano's Heritage Creekside development
Jan 27, 2017, 10:15am CST
Candace Carlisle Dallas Business Journal

With the first apartment project completed at Plano's Heritage Creekside — a 156-acre, $1 billion mixed-use development — Dallas-based Rosewood Property Co. plans to begin its next phase, which will put upwards of 150 new single-family homes on the ground.

The Bridge @ Heritage Creekside, a 327-unit apartment community near U.S. 75 and the President George Bush Turnpike, was recently completed, with two restaurant leases recently signed with two concepts by Dallas' Shannon Wynne's restaurant group. The eateries are Flying Fish and Rodeo Goat Ice-House.

The Bridge apartments in Plano have been completed at the Heritage Creekside mixed-use project, which will make way for the next phase of development.

"The entire 46-acres comprising phase 1 of Heritage Creekside is under development and the progress is demonstrable," said Bill Flaherty, president of Rosewood Property Co., which is a subsidiary of Rosewood Corp. — a private investment firm owned by the Caroline Hunt Trust Estate.

In addition to the apartment community being complete and the single-family homes underway, Flaherty said the creek restoration project has also begun and a pedestrian and bike bridge is slated to be installed in mid-2017.

The initial phase of single-family residences will be built by a division of Plano-based Green Brick Partners Inc., CB JENI Homes, and Plano-based Cambridge Homes.

CB JENI plans to construct 105 townhomes on the west side of Pittman Creek. Cambridge Homes plans to build 41 homes along the creek.
The demand for single-family homes in North Texas is at a record rate and the ability to deliver quality homes in a desirable in-fill location like Plano has generated immediate demand, said Jed Dolson, an executive with Green Brick Partners.

“The ability to walk and bike to the immediately adjacent restaurants and retail is one of the most desirable amenities requested by prospective homeowners and we are pleased with the quality and reputation of the restaurants that Rosewood has been able to secure,” Dolson said, in a statement.

Upon completion, Heritage Creekside will include up to 1,300 apartments, several hundred townhomes and homes, retail and 2.5 million square feet of corporate office campus space.

Gateway Planning Group, Stantec, GFF and Horsley Witten Group are working alongside Rosewood Property on the mixed-use development.

The acreage has been owned by the Hunt family for more than half a century and is one of the last remaining parcels in Plano to develop.

Candace Carlisle covers real estate for the Dallas Business Journal.

 

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